Apollon Wealth Management LLC Trims Stock Holdings in Realty Income Corporation $O

Key Points

• Apollon Wealth Management LLC reduced its stake in Realty Income Corporation by 31.0%, leaving them with 19,361 shares valued at approximately $1.11 million at the end of the latest quarter.
• Several institutional investors have also adjusted their holdings, with Aberdeen Group plc increasing its stake by 32.7% during the same period.
• Realty Income recently announced an increased monthly dividend of $0.2695, which reflects an annualized yield of 5.5%, marking a rise from the previous month’s dividend.

Apollon Wealth Management LLC trimmed its holdings in Realty Income Corporation (NYSE:O - Free Report) by 31.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,361 shares of the real estate investment trust's stock after selling 8,692 shares during the quarter. Apollon Wealth Management LLC's holdings in Realty Income were worth $1,115,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of O. Trust Co. of Toledo NA OH purchased a new position in Realty Income during the 2nd quarter worth $99,000. Aberdeen Group plc increased its holdings in Realty Income by 32.7% during the 2nd quarter. Aberdeen Group plc now owns 1,760,649 shares of the real estate investment trust's stock worth $99,987,000 after purchasing an additional 433,870 shares during the period. PDS Planning Inc increased its holdings in Realty Income by 25.4% during the 2nd quarter. PDS Planning Inc now owns 5,355 shares of the real estate investment trust's stock worth $309,000 after purchasing an additional 1,086 shares during the period. Blue Trust Inc. increased its holdings in Realty Income by 2.2% during the 2nd quarter. Blue Trust Inc. now owns 17,194 shares of the real estate investment trust's stock worth $990,000 after purchasing an additional 374 shares during the period. Finally, Fourpath Capital Management LLC increased its holdings in Realty Income by 8.2% during the 2nd quarter. Fourpath Capital Management LLC now owns 16,039 shares of the real estate investment trust's stock worth $924,000 after purchasing an additional 1,220 shares during the period. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

O has been the topic of several research reports. Evercore ISI initiated coverage on Realty Income in a report on Wednesday, October 1st. They set an "in-line" rating and a $62.00 price objective on the stock. Mizuho raised their price objective on Realty Income from $60.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, September 11th. Scotiabank raised their price objective on Realty Income from $58.00 to $60.00 and gave the stock a "sector perform" rating in a report on Thursday, August 28th. Cantor Fitzgerald assumed coverage on Realty Income in a report on Wednesday, October 1st. They set a "neutral" rating and a $64.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Realty Income in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $62.25.

Realty Income Stock Up 0.2%

Realty Income stock opened at $58.85 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.85 and a quick ratio of 1.85. The stock has a market capitalization of $53.80 billion, a price-to-earnings ratio of 57.13, a PEG ratio of 4.49 and a beta of 0.78. Realty Income Corporation has a 1-year low of $50.71 and a 1-year high of $64.88. The business has a fifty day moving average price of $59.02 and a 200-day moving average price of $57.51.

Realty Income (NYSE:O - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $1.05 earnings per share for the quarter, missing analysts' consensus estimates of $1.06 by ($0.01). The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.33 billion. Realty Income had a return on equity of 2.34% and a net margin of 16.77%.The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.07 EPS. Equities research analysts forecast that Realty Income Corporation will post 4.19 EPS for the current fiscal year.

Realty Income Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be given a $0.2695 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Wednesday, October 1st. This is a positive change from Realty Income's previous monthly dividend of $0.27. Realty Income's payout ratio is 313.59%.

Insider Buying and Selling at Realty Income

In related news, Director Mary Hogan Preusse sold 11,000 shares of the firm's stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $60.43, for a total value of $664,730.00. Following the completion of the transaction, the director owned 19,211 shares in the company, valued at $1,160,920.73. This trade represents a 36.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.10% of the stock is owned by insiders.

Realty Income Profile

Realty Income, The Monthly Dividend Company, is an S&P 500 company and member of the S&P 500 Dividend Aristocrats index. We invest in people and places to deliver dependable monthly dividends that increase over time. The company is structured as a real estate investment trust ("REIT"), and its monthly dividends are supported by the cash flow from over 15,450 real estate properties (including properties acquired in the Spirit merger in January 2024) primarily owned under long-term net lease agreements with commercial clients.

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